The Saudi Industrial Property Authority “MODON” signed at its headquarters in Riyadh a memorandum of understanding (MoU) with the Saudi Women's Innovation Foundation to work on the development of industry and industrialists in Jazan and enable small and medium enterprises to start their investments within industrial cities in the region.
The memorandum, signed by Eng. Khalid bin Mohammed Al-Salem, director general of MODON, and Aisha bint Mohammed Al-Shabaili, founder of the Saudi Women's Innovation Foundation, states that MODON will seek to find a suitable location for the center in the industrial city of Jazan and commits to equip it with all the necessary equipment, as well as train and rehabilitate those enrolled in the center.
Al-Salem said that MODON’s signing of this memorandum is part of its system to develop and improve performance in its industrial cities and to make model cities that meet the highest standards in the level of services provided to industrialists and investors, stressing MODON’s determination to move ahead with initiatives through ambitious goals to deal with the challenges ahead and expand the delivery of services and facilities within its industrial cities.
The director general of MODON pointed out that this project would support industrialization, push it toward overall quality, and make it a priority for future development in the Jazan region, which will provide an opportunity for young Saudi men and women to make their way to the future.
The project aims to create women's employment opportunities in the field of knitting, mattresses and household furniture for people with limited income through free training, thereby benefiting the families of the martyrs, orphanages and prisoners. The center will also serve more than 18 governorates in the Jazan region and will include training of 150 young Saudi men and women annually and qualify them with advanced qualification, ending in recruitment.
MODON signed this memorandum as part of its initiatives to promote the industrial system, investment climate, community service programs, and support small enterprises and social responsibility initiatives.
MODON signs MoU to enable SMEs within industrial cities in Jazan
MODON signs MoU to enable SMEs within industrial cities in Jazan
Saudi Awwal Bank becomes first Middle East bank to earn 7-star CinOrg innovation accreditation
Saudi Awwal Bank has become the first bank in the Middle East to receive a 7‑star Certified Innovative Organization rating from the Global Innovation Institute, the highest recognition awarded by the institute.
The accreditation marks a significant step in SAB’s innovation strategy and follows an innovation maturity assessment conducted by the institute in December 2025. The review, which built on an earlier assessment in December 2023, raised the bank’s maturity level from “Champion” to “Leader.” The new rating reflects SAB’s institutionalized approach to innovation, its enterprise-wide impact and its ability to consistently deliver measurable results.
With the 7‑star rating, SAB becomes the first bank in the region to reach the highest innovation maturity level, strengthening its position as a regional reference point for innovation-led and future-ready banking.
In 2025, the bank opened its flagship Innovation Centre and secured six internationally recognized innovation awards, along with a lab accreditation. The centre has supported SAB’s efforts to accelerate the adoption of advanced technologies, encourage cross-functional collaboration and reinforce its standing as a regional leader in financial innovation.
Saeed Assiri, chief innovation banking officer at SAB, said the recognition reflects years of focused work to build a sustainable innovation ecosystem.
“By investing in SAB’s culture, governance and talent, innovation enables the bank to remain future-ready,” he said. “This milestone reinforces our role in accelerating financial innovation in Saudi Arabia and delivering long-term value for our customers.”
The certification adds to SAB’s broader efforts to strengthen its innovation capabilities as the Kingdom’s banking sector continues to evolve.
